“The Governing Council will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate level and duration of restriction,” the ECB said in a statement. “The Governing Council is not pre-committing to a particular rate path.”
The European Central Bank delivered the interest-rate reduction it’s been flagging for months — moving away from a record high — but stopped short of indicating more may follow.
Officials led by President Christine Lagarde lowered the key deposit rate by a quarter-point to 3.75% on Thursday, as expected. Having kept it at 4% for nine months, they said the inflation outlook has improved “markedly,” though they also raised projections for prices.
